The growth in gross domestic product (GDP) at factor cost and at constant 2004-05 prices was 8.8% in the June quarter. But GDP growth at market prices (which is GDP at factor cost plus indirect taxes less subsidies to arrive at GDP from the expenditure side) and at constant 2004-05 prices grew by 3.65%.
While earnings growth appears to have slowed, the credit profile of companies continues to improve. Crisil Ltd, the country’s foremost rating agency, upgraded 154 companies and downgraded around 82 from April to date.
Pantaloon Retail (India) Ltd reported a 6.4% year-on-year decline in its stand-alone revenue for fiscal 2010 to Rs5,934 crore. Net profit increased at a faster pace of 27% to Rs180 crore.